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v3.25.2

Operating Segments (Tables) | 12 Months Ended
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May 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
| Year Ended
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Net sales: |  |  |  |  |
North America Contract | $ | 1,965.2 |  |  | $ | 1,922.3 |  |  | $ | 2,129.5 |
International Contract | 660.0 |  |  | 645.6 |  |  | 705.5 |
Global Retail | 1,044.7 |  |  | 1,060.5 |  |  | 1,252.1 |
Total | $ | 3,669.9 |  |  | $ | 3,628.4 |  |  | $ | 4,087.1 |
Refer to Note 2 of the Consolidated Financial Statements for further disaggregation of revenue by operating segment.
| Year Ended
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Adjusted cost of sales(1): |  |  |  |  |
North America Contract | $ | 1,262.4 |  |  | $ | 1,224.5 |  |  | $ | 1,434.6 |
International Contract | 419.2 |  |  | 412.5 |  |  | $ | 475.4 |
Global Retail | 565.2 |  |  | 571.9 |  |  | $ | 731.8 |
Total | $ | 2,246.8 |  |  | $ | 2,208.9 |  |  | $ | 2,641.8 |
(1) Adjusted cost of sales is defined as cost of sales excluding, when they occur, the impacts of restructuring charges and integration charges, that may not be indicative of ongoing operations.
| Year Ended
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Adjusted operating expenses(1): |  |  |  |  |
North America Contract | $ | 511.8 |  |  | $ | 520.6 |  |  | $ | 520.9 |
International Contract | 167.3 |  |  | 160.7 |  |  | 152.9 |
Global Retail | 427.6 |  |  | 424.0 |  |  | 460.2 |
Total Reportable Segment Adjusted operating expenses | 1,106.7 |  |  | 1,105.3 |  |  | 1,134.0 |
Corporate | 67.7 |  |  | 52.0 |  |  | 54.8 |
Total | $ | 1,174.4 |  |  | $ | 1,157.3 |  |  | $ | 1,188.8 |
(1) Adjusted operating expenses is defined as operating expenses excluding, when they occur, the impacts of restructuring charges, integration charges, amortization of Knoll purchased intangibles, impairment charges, and significant non-recurring or infrequent items that may not be indicative of ongoing operations.
| Year Ended
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Adjusted operating earnings: |  |  |  |  |
North America Contract | $ | 191.0 |  |  | $ | 177.2 |  |  | $ | 174.0 |
International Contract | 73.5 |  |  | 72.4 |  |  | 77.2 |
Global Retail | 51.9 |  |  | 64.6 |  |  | 60.1 |
Total Segment Adjusted operating earnings | $ | 316.4 |  |  | $ | 314.2 |  |  | $ | 311.3 |
| Year Ended
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Reconciliation to net earnings: |  |  |  |  |
Total Segment Adjusted operating earnings | $ | 316.4 |  |  | $ | 314.2 |  |  | $ | 311.3 |
Corporate Adjusted operating loss | (67.7) |  |  | (52.0) |  |  | (54.8) |
Total Consolidated Adjusted operating earnings | 248.7 |  |  | 262.2 |  |  | 256.5 |
Net earnings attributable to redeemable noncontrolling interests | 3.7 |  |  | 2.3 |  |  | 4.0 |
Net (loss) earnings from: |  |  |  |  |
Equity (loss) earnings from nonconsolidated affiliate, net of tax | 0.3 |  |  | (0.4) |  |  | (0.8) |
Income tax expense | 11.6 |  |  | 14.7 |  |  | 4.5 |
Other expense (income), net | 1.1 |  |  | (2.6) |  |  | (0.3) |
Interest and other investment (income) expense | (5.4) |  |  | (6.1) |  |  | (2.8) |
Interest expense | 76.7 |  |  | 76.2 |  |  | 74.0 |
Restructuring charges | 14.8 |  |  | 30.8 |  |  | 34.0 |
Integration charges | 28.3 |  |  | 23.5 |  |  | 18.0 |
Amortization of Knoll purchased intangibles | 24.1 |  |  | 23.9 |  |  | 25.3 |
Impairment charges | 130.0 |  |  | 16.8 |  |  | 56.9 |
Knoll pension plan termination charges | 1.0 |  |  | — |  |  | — |
Net (loss) earnings attributable to MillerKnoll, Inc. | $ | (36.9) |  |  | $ | 82.3 |  |  | $ | 42.1 |
(In millions) | Year Ended
Depreciation and amortization: | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
North America Contract | $ | 83.3 |  |  | $ | 96.9 |  |  | $ | 92.1 |
International Contract | 22.2 |  |  | 28.0 |  |  | 27.5 |
Global Retail | 35.0 |  |  | 30.2 |  |  | 35.5 |
Total | $ | 140.5 |  |  | $ | 155.1 |  |  | $ | 155.1 |
Capital expenditures: |  |  |  |  |
North America Contract | $ | 58.7 |  |  | $ | 51.4 |  |  | $ | 54.2 |
International Contract | 19.9 |  |  | 7.0 |  |  | 10.2 |
Global Retail | 29.0 |  |  | 20.0 |  |  | 18.9 |
Total | $ | 107.6 |  |  | $ | 78.4 |  |  | $ | 83.3 |
Goodwill: |  |  |  |  |
North America Contract | $ | 590.8 |  |  | $ | 584.3 |  |  | $ | 582.4 |
International Contract | 159.1 |  |  | 154.0 |  |  | 153.1 |
Global Retail | 402.5 |  |  | $ | 488.0 |  |  | 486.2 |
Total | $ | 1,152.4 |  |  | $ | 1,226.3 |  |  | $ | 1,221.7 |
Schedule of Long-Lived Assets by Geographic Areas | Reportable geographic information is as follows:
| Year Ended
(In millions) | May 31, 2025 |  | June 1, 2024 |  | June 3, 2023
Long-lived assets(1): |  |  |  |  |
United States | $ | 711.9 |  |  | $ | 704.2 |  |  | $ | 787.1 |
International | 195.4 |  |  | 163.4 |  |  | 165.1 |
Total | $ | 907.3 |  |  | $ | 867.6 |  |  | $ | 952.2 |
(1) Long-lived assets include property and equipment and right of use assets.

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